Banks ramp up AI defenses as gov’t moves to make them liable for voice phishing losses

Banks are enhancing preventive measures against voice phishing, including upgrades to monitoring systems powered by artificial intelligence (AI), as the government moves to require financial institutions to compensate phishing victims, industry officials said Monday. The efforts come as the government plans to legislate a no-fault liability rule, which would require financial institutions to compensate victims of voice phishing even when transfers were made directly to criminals by the victims and even if the banks are not at fault. This measure is a core element of the comprehensive anti-voice phishing plans prepared by a pan-government task force led by the Office for Government Policy Coordination, with participation from the Ministry of Science and ICT, the Financial Services Commission (FSC) and other agencies. In announcing the plans on Thursday, the government said it will set detailed requirements, limits and procedures in consultation with financial firms as early as this year. Accordingly, the country’s major banks plan to focus their follow-up measures on strengthening defenWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times